VINTAGE WOODS - Laserfiche WebLink

Home Browse Search

for rent assistance pursuant to said Program, as detailed on the Impacted Tenants List attached hereto as Exhibit A and incorporated herein by reference. C. Grant Funds. Pursuant to this Agreement, the City will pay Landlord a total amount not to exceed..$9,391.20 ("Grant Funds"), for rental relief assistance for the Landlord's Impacted Tenants, as detailed in Exhibit A. 1. The Grant Funds will be disbursed directly to Landlord in a one-time electronic payment from the City after the Landlord provides the City with required W-9 and banking information to receive the disbursement of Grant Funds. 2. Landlord acknowledges that the source of funding for said Program is the federal CARES Act, considers the Grant Funds to be a necessary expense incurred due to the COVID-19 public health emergency, and that the Grant Funds meet the other requirements for the use of fund payments under section 601(d) of the Social Security Act, as outlined in the CARES Act. 3. The Grant Funds must be applied to the past due rent amounts of the Impacted Tenants, and no other use of said Grant Funds is allowed. 4. The Grant Funds utilized for said Program have been appropriated to the City pursuant to the CARES Act, and any use of the Grant Funds by the Landlord are subject to the rules and regulations of the CARES Act. Additionally, all Grant Funds will be subject to the availability of CARES Act funding. Accordingly, The City reserves the right to reduce the amount of Grant Funds to Landlord, or to completely terminate this Agreement, in the City's sole discretion, if there is a reduction in CARES Act Funds provided to the City. 5. Once the Grant Funds are paid by the City and received by the Landlord, the Landlord shall provide a letter to each Impacted Tenant, with a copy to the City, informing the Impacted Tenant that their rent owed since April 1, 2020, has been paid by said Program. Additionally, all backup documentation will be sent by the Landlord to the City to verify that the rent arrears has been paid for the Impacted Tenants. D. Grant Term. This Agreement shall take effect on the date first written above, and continue as long as Landlord is required to comply with any applicable terms, obligations or requirements of this Agreement. ("Grant Term"). II. ELIGIBILITY REQUIREMENTS A. Landlord Representations and Warranties. As a prerequisite for participating in said Program, Landlord confirms that the following is true and correct: 2